We use cookies to give you the best possible online experience. If you continue, we’ll assume you are happy for your web browser to receive all cookies from our website. See our cookie policy for more information on cookies and how to manage them.

Since its launch, sales of Portfolio through theIFA channel have been 54% higher than combined sales figures forBond 2000 and Portfolio Bond between January and July 2003. Totalsales through all channels from 7 July 2003 have been about£660m.

Neil Davies, head of investment product developmentat Norwich Union, believes that Portfolio is popular because it issimple and offers investors a choice of 31 internal funds and morethan 50 external funds managed by 12 fund managers. When Portfoliowas launched it included a new simple and explicit chargestructure, which gives investors a clear picture of the chargesthat apply to their investment.

He said: "We put a lot of work into Portfolio andthat has paid off. Since its launch, sales of Portfolio have donevery well.

"Portfolio has been in demand with investorsbecause it offers access to a broad range of funds includingNorwich Union’s Guaranteed, Property, Distribution, CorporateBond and With-Profit funds. The recently relaunched Guaranteed Fundis a popular option because it offers a broad asset mix and aguarantee that investors will not lose their capital on the fifthanniversary. The product literature has been designed to be simpleand free of jargon while charges are also easy to understand."

Norwich Union is the UK's largest insurer. It is the UK'slargest provider of life, pensions and investment products andone of the leading IFA providers. IFAs provide around 75% of thecompany's long-term savings business in the UK.

Norwich Union has strategic alliances with building societiesand other leading UK brand names including Tesco PersonalFinance and The Royal Bank of Scotland Group.

Norwich Union’s news releases and a selection of imagesare available from Aviva's internet press centre at http://www.aviva.com/media

About Portfolio

Portfolio offers a flexible way to invest for growth or income.Its minimum investment is £5,000 and investors can choose to puttheir money in a selection of cash, bond, property,distribution, equity and with-profit funds, which are run byNorwich Union and other fund managers.

Portfolio, Norwich Union’s investment bond:

Offers valuable guarantees - for investmentsinto the With-Profit Fund, there is a 5th (a special offerintroduced on 9 February, which ends on 31 December or earlierif fully subscribed) and 10th anniversary money-backguarantee. On the Guaranteed Fund, there is a money-backguarantee on the 5th anniversary

Is simpler and more flexible - offering awide choice of internal and external funds and a choice of twocharging structures within a single bond

Has clear and easy to understand charges -explicit charging provides investors with a clear picture ofthe charges applicable to their investment

Funds on offer – offers investors thechoice of income and growth funds. Investors can choose from arange of 31 internal funds as well as 51 external fundsmanaged by 12 industry-renowned fund managers